Cibc World Market Inc. Purchases 91,312 Shares of PPG Industries, Inc. $PPG

Cibc World Market Inc. boosted its position in PPG Industries, Inc. (NYSE:PPG) by 858.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,952 shares of the specialty chemicals company’s stock after buying an additional 91,312 shares during the quarter. Cibc World Market Inc.’s holdings in PPG Industries were worth $10,716,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PPG. Vanguard Group Inc. lifted its position in shares of PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock worth $3,328,936,000 after purchasing an additional 192,560 shares in the last quarter. State Street Corp lifted its position in PPG Industries by 6.3% during the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after buying an additional 749,081 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of PPG Industries by 21.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock valued at $632,482,000 after acquiring an additional 971,799 shares in the last quarter. Norges Bank bought a new position in shares of PPG Industries in the 2nd quarter valued at about $362,412,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in PPG Industries by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,775,676 shares of the specialty chemicals company’s stock worth $315,734,000 after acquiring an additional 41,406 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PPG. Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Evercore dropped their price target on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research report on Wednesday, January 28th. Wells Fargo & Company upped their target price on shares of PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Finally, Royal Bank Of Canada raised their target price on shares of PPG Industries from $109.00 to $115.00 and gave the company a “sector perform” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and an average price target of $124.79.

PPG Industries Stock Down 0.2%

PPG Industries stock opened at $131.26 on Friday. The company’s 50-day moving average price is $110.40 and its two-hundred day moving average price is $106.35. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The stock has a market cap of $29.45 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.98 and a beta of 1.16. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $133.43.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.06). The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. PPG Industries’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s payout ratio is presently 40.92%.

Insider Activity

In related news, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the transaction, the vice president directly owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vincent J. Morales sold 29,672 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $125.00, for a total transaction of $3,709,000.00. Following the completion of the sale, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at $3,554,875. This represents a 51.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,122 shares of company stock worth $4,541,078 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.